Petronas to drop unfeasible contracts as oil prices drop, warns CEO

The Malaysian Insider, dateline 2014-11-02:

Petroliam Nasional Berhad (PETRONAS) has warned that it will not hesitate to drop contracts that are not economically feasible as oil prices remain under pressure.

Petronas president and chief executive officer Tan Sri Shamsul Azhar Abbas said in such market conditions, the company will be monitoring its cost closely.

“Petronas regularly conducts portfolio reviews to assess project feasibility,” Shamsul told the Edge Weekly in an email.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: